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Mark Rebel took a car loan of $40,000 to be repaid in 48 uniform monthly payments starting exactly twelve months after acquring the loan. The

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Mark Rebel took a car loan of $40,000 to be repaid in 48 uniform monthly payments starting exactly twelve months after acquring the loan. The interest rate he is being charged is 0.5% per month. Calculate the required uniform monthly payment. Choose the closest answer below. . $992.33 . $1,292.00 . $939.40 . $1,254.00 $997.34

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